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MOST IMPORTANT TERMS AND CONDITIONS

The Most Important Terms & Conditions and all the information herein is applicable to all Credit Cardholders / applicants of Credit Cards / customers of the Bank / members of the general public evincing interest in the Credit Card product of the Bank with immediate effect. The MITC are subject to change. The said MITC are in addition to and are to be read along with the terms and conditions of the Cardholder Agreement of the Bank.

A) Schedule of Charges 1. JOINING, ANNUAL & ADD-ON CARD FEE

Credit Card Type

Joining Fee (Rs.)

Annual Fee 2nd year onwards (Rs.)

Add-on Card (Upto 3 cards)

LIC Titanium Credit Card

Nil Nil Nil

LIC Platinum Credit Card

Nil Nil Nil

LIC Signature Credit Card

Nil Nil Nil

2. FINANCE / INTEREST CHARGE (Effective 12th June 2021)

LIC Credit Card Variant

Overdue Interest on Extended Credit

Interest on Cash Advances

Monthly Rate

Annual Rate

Monthly Rate

Annual Rate

LIC Titanium Credit Card 3.6% per month

52.86% per annum

3.6% per month

52.86% per annum

LIC Platinum Credit Card 3.6% per month

52.86% per annum

3.6% per month

52.86% per annum

LIC Signature Credit Card 3.6% per month

52.86% per annum

3.6% per month

52.86% per annum

Finance / Interest Charge details: 1) Interest will be charged;

• If the Total Amount Due is not paid by the Payment Due Date, interest will be charged on the Total Amount Due and on all new transactions (from the transaction date) till such time as the previous outstanding amounts are paid in full

• On all cash advances from the date of the withdrawal until the date of payment

• Late payment fees / interest levied, if the Minimum Amount Due is unpaid after Payment Due Date

• In the case of balance transfers from other Credit Card accounts, Finance Charges accrue immediately from the Date of Issue of Banker's Cheque / NEFT on the transferred amount and on any purchase amount outstanding on your Card Account

2) The Finance Charges as above will continue to be payable even after the

closure of the Card Account, till the outstanding on the Card is cleared fully.

3) OTHER FEES & CHARGES

Cash Withdrawal Fees** 2.5% (Min. Rs. 500) of the cash amount;

Fee for Cash Payment at branches

Rs. 100

Card Replacement Fee Rs.100

Duplicate Statement Fee Waived

Late Payment Fee

Nil if total payment due is up to Rs. 300

Rs. 100 if total payment due is between Rs. 301 and Rs. 500

Rs.500 if total payment due is between Rs. 501 and Rs.1000

Rs. 500 if total payment due is between Rs.1001 and Rs.10,000

Rs. 750 if total payment due is between Rs.10,001 and Rs.25,000

Rs. 1,000 if total payment due is between Rs.25,001 and Rs.50,000

Rs. 1,000 if total payment due is greater than Rs.50,000

Over-limit Penalty*** 2.5% of the over-limit amount (Min. Rs. 500)

Charge slip Retrieval Fee or Copy Request Fee

Waived

Outstation Cheque Fee Waived

Cheque return or Dishonour Fee or Auto debit Reversal (Bank A/c out of Funds)

2% of the payment amount subject to Min. Rs.450

Surcharge on purchase or cancellation of Railway Tickets

As prescribed by IRCTC / Indian Railways

Fuel Transaction Surcharge

1% of transaction amount (Refunded for fuel transactions Between Rs. 400 to Rs. 4,000. Maximum benefits up to Rs. 400 per month) Please note that taxes levied on fuel surcharge (if any) will not be waived and will need to be borne by the cardholder

Foreign Currency Transaction Fee****

3.50% of the transaction value for all cards

Mobile Alerts for Transactions

Waived

Hot listing Charges Waived

Balance Enquiry Charges Waived

Note: i) GST, as notified by the Government of India, is applicable on all fees, interest and other charges, and is subject to change as per relevant regulations of the Government of India. ii) The Bank retains the right to alter any charges or fees from time to time, or to introduce any new charges or fees, as it may deem appropriate, with due intimation of at least one month to the customer *Late Payment Fee: Late Payment Fee is charged to the Cardholder if there has been no payment or a payment less than the Minimum Amount Due is received by the Payment. Due Date. Clear funds need to be credited to the LIC Credit Card Account on or before the Payment Due Date, to avoid Late Payment Fees **Cash Withdrawal Fee: The Cardholder can use the LIC Credit Card to withdraw cash from ATMs in India or overseas, depending on their usage preference selected at the time of Credit Card Application, in accordance with the compatibility of the LIC Credit Card at the said ATM(s). The Transaction Fee shall

be levied on such withdrawals as per above mentioned charges and would be billed to the Cardholder in the next statement. These charges are only Bank charges. Certain ATMs will levy withdrawal charges, which are not linked to the Bank. ***Over-limit Fee: The Bank may approve certain transactions attempted by the Cardholder which can breach the Credit Amount exceeds the Credit Limit, an over-limit fee of 3% of the over-limit amount (subject to a minimum of Rs.500) will be levied. Over-limit status may occur because of fees or interest charges. ****Charges in foreign currency: If a transaction is made in a currency other than Indian Rupees, that transaction will be converted into Indian Rupees. The conversion will take place on the date the transaction is settled with Axis Bank, which may not be the same date on which the transaction was made. If the transaction is not in US Dollars, the conversion will be made through US Dollars, by converting the charged amount into US Dollars and then by converting the US Dollar amount into Indian Rupees. Unless a specific rate is required by applicable law, the conversion rate from US Dollar to Indian Rupees will be at the rates provided by VISA / MasterCard, as the case may be, on the settlement date, increased by a Currency Conversion Factor assessment (currently 3.50%) on such transactions. A refund of such a foreign transaction initiated by the customer will also attract an additional 3.5% fee. Example for Interest Computation: Assume that you have paid all previous dues in full, and do not have any amount outstanding in your Credit Card Account, and your monthly statement is generated on the 20th of every month. You have purchased household goods for Rs.25000 on 12th June and withdrawn cash from an ATM for Rs.5,000 on 15th June.

Date Transaction Type

Amount Explanation

12th June

Purchase Rs.25,000 Dr Purchase made on Credit Card

15th June

Cash Withdrawal

Rs.5,000 Dr Cash withdrawn on Credit Card

Your monthly statement generated on 20th June shall have the following entries Actual interest calculation would vary based on the individual purchase and revolve behaviour and the applicable interest rate. Your due date for a 20th June statement is 10th July. If you pay Rs.5000 on 10th July and you also make a fresh purchase of Rs.10,000 on 11th July, your monthly statement generated on 20th July shall have the following entries:

Date Transaction Type Amount Explanation

Opening Balance Rs. 30,631.89 Dr

Balance carried forward from previous statement

10th July

Payment Rs. 5,000 Cr Payment towards previous statement dues

11th July

Purchases Rs. 10,000 Dr Purchases made on Credit Card

20th July

Interest Rs. 1,413.85 Dr

Break-up of Rs. 1,413.85 given below:

a) Interest on Rs. 25,000 @ 3.6% p.m. from 12th June to 20th July

(39 days) [Rs. 25,000 x 3.6% x 39 days x 12 months / 365 days = Rs. 1153.97].

b) Interest on Rs. 5000 @ 3.6% p.m. from 21st June to 10th July (20

days) [5000 x 3.6% x 20 days x 12 months / 365 days = Rs. 118.36].

20th June

Interest Rs.35.50 Dr

Cash withdrawal done Rs. 5,000* 6 days* 3.6%*12 months/365 days = Rs. 35.50

20th June

Cash Transaction Fee

Rs.500 Dr 5000*2.5% = Rs. 125 which is less than Rs. 500

20th June

GST on Interest

Rs.6.39 Dr 35.50*18% = Rs.6.39

20th June

GST on Fee

Rs.90.00 Dr 500*18% = Rs.90

Closing Balance Rs.30,631.89 Dr Total Payment Due

c) Interest on Rs. 10,000 @ 3.6% p.m. from 11th July to 20th July (10 days) [Rs. 10,000 x 3.6% x 10 days x 12 months / 365 days = 118.36].

d) Interest on 631.39 (Interest + Transaction Fee + Tax levied in last

statement) @ 3.6% p.m. from 20th June to 20th July (31 days) [Rs. 631.39 x 3.6% x 31 days x 12 months / 365 days = Rs. 23.16].

20th July GST Rs. 254.49 Dr Rs. 1,413.85*18% = Rs. 254.49

Closing Balance Rs. 37300.23 Dr Total Payment Due

Actual interest calculation would vary based on the individual purchase and revolve behaviour and the applicable interest rate. Making only the minimum payment every month would result in the repayment stretching over years with consequent interest payment on your outstanding balance. B) Late Payment Fee Calculation Late Payment Fee is charged to the Cardholder if there has been no payment or a payment less than the Minimum Amount Due is received by the Payment Due Date. Clear funds need to be credited to the LIC Credit Card Account on or before the Payment Due Date, to avoid Late Payment Fees. C) Credit and Cash Withdrawal / Advance Fees

• The Credit Limit: This is the limit assigned to the Cardholder. The total outstanding, including all transactions, fees and charges should not exceed this limit.

• Cash Limit: This is the Cash Advance Limit assigned to the Cardholder. This

limit is lower than the Credit Limit, and is a subset of the overall Credit Limit.

A transaction fee is levied on cash withdrawn from ATMs. Also, cash transactions always accrue interest from the transaction date, unlike retail purchases, where interest accrual depends on the payment of 100% balance payment by the Payment Due Date

• Available Credit Limit: The Available Credit Limit at any time is the difference between the assigned Credit Limit and the outstanding balance on the

Card at that point of time. The Add - on Cardholder(s) will share this Credit Limit assigned to the primary Cardholder

• Available Cash Limit: The Available Cash Limit at any time, is the difference

between the assigned Cash Limit & the outstanding cash balance on the Card at that point of time.

• International Limit: International Limit is the limit assigned to the customer for international usage. It is only applicable for customers who have opted for international usage at the time of Credit Card Application. This is as per the International Limit mentioned on your Welcome Kit

• The Credit, Cash and International (if any) Limit will vary for each Cardholder. It will be communicated to the Cardholder in the Welcome Letter at the time of delivery of the Card, and will also be disclosed in the monthly statement sent to the Cardholder. The Available Credit Limit at the time of generation of each monthly statement is provided as a part of the said statement.

• Multi cards-Limit sharing: Axis Bank at its sole discretion reserves the right to provide a card type that is different from the existing card type held by the Cardholder. The Credit Limits and Cash Limits on any Credit Card at any point in time are at the sole discretion of Axis Bank. Credit limits are shared between multiple card accounts, the usage limit of each credit card will be to the extent of the credit limit assigned on that card. In situations where the outstanding exceeds the credit limit assigned to the credit card standard over limit charges will be applicable.

• RBI Guidelines on usage

As per RBI guidelines, all cards shall be enabled for use only at contact based points of usage within India(ATMs and POS i.e. point of sale devices). You can set or change your usage preference and manage transaction limits on your card anytime by enabling or disabling contactless, international, online transactions via Axis Mobile app, internet banking or simply contacting the customer care / visiting the nearest branch. The contactless symbol on the front face of your card signifies that the card is contactless acceptance ready. If your card plastic does not support any of the above mentioned transactions, you will not be able to enable or disable preferences/limits, please call the customer care or visit a branch for your request.

D) Credit - Free Period The interest - free grace period could range from 20 to 50 days, depending on the date of transaction. Illustrative example for the calculation of the grace period: For a statement of the period from 20th June to 20th July, the Payment Due Date would be 10th August. Assuming that you have paid your Total Amount Due of the previous month’s statement by the Payment Due Date, the grace period would be: 1. For a purchase dated 24th June, the interest - free grace period is from 24th

June -10th August i.e. 47 days. 2. For a purchase dated 14th July, the interest - free grace period is from 18th

July to 10th August i.e. 23 days. Thus, the grace period can vary depending upon the date of purchase. However, if the Total Amount Due of the previous month is not paid by the Payment Due Date, then the Free Credit Period will be lost and there will not be any interest - free period. For cash advances, interest is charged from the date of transaction until the date of payment.

E) Billing and Statement

i] Billing Statement - Periodicity & mode of sending: The Bank will send at your mailing address / e-mail address, as per Bank's records, a statement / e-statement once a month for there is any transaction or outstanding of more than Rs. 100 on the Card Account. Non - receipt of a Statement would not affect your obligations and liabilities under this agreement and you shall be liable to settle the outstanding balance on the Card within the Payment Due Date.

ii] The Bank will debit the Card Account for all debits received from the

Merchant Establishments and charges incurred, and credit the Card Account for all payments made by the Cardholder to the Bank and also for any payment in favour of the Cardholder.

iii] The Bank may offer the Cardholder a revolving credit facility wherein

the Cardholder may choose to pay only the Minimum Amount Due

(MAD) as indicated on the Statement. The Total Amount Due (TAD) from the Cardholder or the MAD should be paid by the Cardholder on or before the Payment Due Date which is also indicated on the Statement.

iv] Non-payment of the MAD by the Payment Due Date shall render you

liable to risk of withdrawal or suspension (Whether temporarily or permanently) of the LIC Credit Card. A fee will be levied for such non - payment as well. The Bank may, at its sole discretion, also instruct the Merchant Establishment not to honour the LIC Credit Card and/or to take custody of the Card by hot listing the Card Number in the Card Association System.

v] You may pay more than the Minimum Amount Due before the

Payment Due Date more than once, during the billing period, or pay the balance outstanding on the Card Account at any time before the due date.

vi] Payments made to your Card Account will be apportioned in the order

of:

1. Fees and charges including taxes 2. Interest charges 3. Cash advances 4. Dial-a-Draft 5. EMI 6. Balance transfer 7. Purchases

vii] If any payment instruction issued by you is subsequently dishonoured,

the Card privileges may be suspended / terminated and a fee, as mentioned in the Schedule of Charges shall be levied to the Card Account at the sole discretion of the Bank. Such a fee amount is subject to change at the sole discretion of the Bank. The Bank also reserves the right to initiate any appropriate legal action.

viii] Duplicate Monthly Account Statements will be provided by the Bank to

you only preceding your request, subject to payment of service charge specified in Schedule of Charges and which can be changed at the discretion of the Bank.

ix] In case of any change in your communication address / e-mail address,

you are advised to contact and update the same with the Bank

immediately to ensure that you receive Statements regularly and on time.

x] Billing disputes – All contents of the Statement(s) will be deemed to be

correct and acceptable by the Cardholder(s) unless within 60 days of the Issue of Statement, the Cardholder(s) informs the Bank of any discrepancies. If the aforesaid discrepancies are found to be legitimate by the Bank, it may reverse the charge on a temporary basis until the completion of subsequent investigations by the Bank to its full and final satisfaction. If the said investigations conducted by the Bank indicate that the liability of such (discrepancies) a charge is accruing to the said Cardholder(s), then the charge will be reinstated in the subsequent Statement and fees / charges shall be claimed by the Bank in accordance with the charges indicated in the Schedule of Charges.

xi] On availing the EMI facility, reward points if any that have been accrued on the original transaction shall be reversed.

F) Method of payment with clearing Turnaround Time (TAT)

Payments towards the Card Account may be made in any of the following ways: 1. Cash: The Cardholder may deposit cash at any of the branches of Axis Bank

towards the Card payment. Such payments at branches would attract a fee of Rs. 100 per payment transaction.

TAT for clearance of cash payment – same day. 2. Cheque / Draft: Draw a cheque or draft favouring “LIC Credit Card No.

XXXXXXXXXXXXXXXX" and drop it in to the collection box of MINC / SKYFIN boxes / over the counter at Axis Bank branches. Outstation cheques / drafts i.e. cheques / drafts payable at cities other than specific cities (list of such specific cities as decided by the Bank from time to time, is available on request) may attract a processing fee.

TAT for clearance of Axis Bank cheque – 1 working day. TAT for clearance of another bank cheque – 3 - 5 working days based on realisation (Additional day required for Outstation cheque clearance. Please check with the branch).

3. Internet payment through linked Axis Bank Savings Account: The Cardholder can make an online payment through the Axis Bank website. Just log on to www.axisbank.com. TAT for clearance – 1 working day.

4. Auto-Debit: The Cardholder can pay directly through the Savings Account

by giving an instruction in writing to debit the payment from such accounts every month on the Payment Due Date. In case the Payment Due Date falls

on a Sunday, the amount would be debited from such account on the next working day. TAT for clearance – 1 working day.

5. Click to Pay / NEFT / VMT: Pay your LIC Credit Card dues from any of your

other bank Savings Accounts using Click to pay / NEFT / VMT. TAT for Click to pay clearance – 3 working days. TAT for NEFT clearance – 1 working day. TAT for VMT clearance – 2 working days. 6. Payment through ATMs: Pay your LIC Credit Card dues through your Axis

Bank Debit Card at any Axis Bank ATM. TAT for clearance – 1 working day. 7. IMPS Credit Card Payment: With IMPS, Cardholders can make a payment

to any LIC Credit Card from any other bank mobile application in real - time. Multiple Axis

Credit Card Accounts can be registered on your mobile application for making payments. And any one (colleagues / friends / spouse) can make payments to anyone's Credit Card through this facility. TAT for clearance – same day.

G) Termination / Surrender / Revocation of Card Membership The Cardholder may, at any time, choose to terminate / surrender the Card Account with or without giving any prior notice. For avoiding misuse, it is advised to cut the Credit Card into four pieces ensuring that the hologram and magnetic strip are destroyed permanently. The Cardholder may terminate the Card membership at any time by writing to the customer service e-mail id by indicating the complete Card Number or by calling Customer Care. The termination shall only be effective once Axis Bank receives the payment of all amounts due and outstanding in respect of the said Card Account. In the event of a Credit Card program closure or at the time of renewal of a Credit Card, Axis Bank at its sole discretion reserves the right to provide a card type that is different from the existing card type held by the Cardholder. The Credit Limits and Cash Limits on any Credit Card at any point in time are as per the sole discretion of Axis Bank. The Card application shall continue to be valid for any replacement Card provided at the time of closure / renewal. H) Loss / Theft / Misuse of Cards You must notify the Bank immediately on phone if the Card is lost, stolen, if someone else knows your PIN or other security information or if it being used without your permission.

A Police Complaint / First Information Report (FIR) must be lodged immediately with the nearest police station, a copy of which must be submitted to the Bank. In case of misuse, the Bank's liability will be limited to the amount covered under Lost Card Liability, subject to fulfilment of Policy Terms and Conditions. The Cardholder will be solely liable for any misuse of Cards for ATM or PIN/Password/OTP/mPIN/CVV based transactions. I) Communication regarding safe-keeping of PIN The Personal Identification Number (PIN) issued to the Cardholder for use with the Card or any number chosen by the Cardholder as a PIN should be known only to the Cardholder. It is for the personal use of the Cardholder, and is non-transferable and strictly confidential. A written record of the PIN number should not be kept in any form, place or manner that may facilitate its use by a third party. The PIN should not be disclosed to any third party, either to staff of the Bank or to Merchant Establishments, under any circumstance or by any means, whether voluntary or otherwise. The Bank shall exercise care while issuing the Cardholder’s PIN except to the Cardholder. Insurance Cover for Cardholders The Insurance covers mentioned below will be applicable depending on the card variant type. Please go through the welcome booklet for applicable insurance covers. Air Accident Cover: Air Accident is valid only if the LIC Credit Card has been used at a Merchant Establishment or an ATM for cash withdrawal at least 90 days preceding the incident and the air ticket is purchased on the LIC Credit Card. The Cardholder's nominee shall not be entitled to any amount under the Air Accident Insurance Policy unless all the dues with Axis Bank are settled. Axis Bank shall have the first charge / lien on the insurance amount for adjusting the outstanding amount. Zero Lost Card Liability: Protection against fraudulent purchase transactions is available, covering 30 days prior to the reporting period from the moment the loss of Card is reported to Axis Bank by the Cardholder. The cover is valid only for fraudulent payment transactions and needs to be mandatorily supported with an FIR. This insurance cover is not valid for ATM and PIN/Password/OTP/mPIN/CVV based transactions. Purchase Protection: Protection against fire or burglary within 90 days of purchases made on the Credit Card, needs to be mandatorily supported with an FIR. Gross negligence on the part of the customer leading to a loss will not be covered. Jewellery and other perishable products are not covered.

Price Protection: The cover will reimburse for the difference between the price paid with LIC Credit Card for an item and a lower price advertised price for the same item (same brand, make, model name and/or number).Cover will be applicable only for amazon, Flipkart or reputed Online Purchase Site for any item with an original purchase price above INR 2500. The lower price must be on the same e-commerce company, the printed advertisement must be published within 3 days of the purchase and claim intimation must be within 7 days of printed advertisement. (Contact the bank for items covered under this feature) Credit Shield: Covers outstanding up to a specific amount on the Card in the event of an accidental death. Delay in Check - in Baggage: Reimburses cost of necessary items for basic needs in case of baggage delay of more than 6 hours while travelling overseas. Valid only in case of flight ticket purchased with LIC Credit Card. Checked in Baggage means the baggage handed over by the Insured Person and accepted by an International Airlines / carrier outside India for transportation in the same mode of conveyance as the Insured Person travels and for which the carrier has issued a baggage receipt. Loss of Check - in Baggage: Covers loss of baggage or damage to baggage in case of overseas travel. Valid only in case of flight ticket purchased with LIC Credit Card. Valid only in case of flight ticket purchased with LIC Credit Card. Checked in Baggage means the baggage handed over by the Insured Person and accepted by an International Airlines / carrier outside India for transportation in the same mode of conveyance as the Insured Person travels and for which the carrier has issued a baggage receipt. Loss of Travel Documents: Covers costs incurred in procuring a passport, including the application fee for lost passport / other travel documents while travelling overseas. Valid only in case of flight ticket purchased with LIC Credit Card. K) Default 1) In the event of a default i.e. if the Minimum Amount Due is not paid by the

Payment Due Date or breach of any clause of the Card Member Agreement, the Cardholder will be sent reminders from time to time by post, fax, telephone, e-mail, SMS messaging and / or through third parties appointed for collecting the dues. Any third party so appointed, shall adhere to the Indian Bank's Association (IBA) code of debt collection.

2) In the event that the Cardholder commits an instance of default, the Bank at its sole discretion, will be entitled to:

a. Withdraw all Credit Card facilities to the Cardholder.

b. Ask the Cardholder to immediately pay all outstanding balance on his

Card.

c. Exercise the Bank’s right to lien and set - off the amount outstanding against any monies / deposits / accounts maintained in the Cardholder name with the Bank.

3) In the case of a default, the Bank can forward the default report to the

Credit Information Bureaus or to such other agencies as approved by law. The time period between the Payment Due Date and the billing date indicated on the billing statement is considered as the notice period for reporting a Cardholder as a defaulter.

4) The procedure for withdrawal of a default report and the period within

which the default report would be withdrawn after the settlement of dues: *The Bank submits the Cardholder's data to CIBIL - Credit Information Bureau (India) Limited every month in the format prescribed by the CIBIL. This data includes the repayment status of all Cardholders, both defaulters and current, for the previous month. CIBIL uploads the submitted data onto their server in another thirty days. 5). Recovery of dues in case of death / permanent in capacitance of the Cardholder: The complete outstanding balance (Including unbilled transactions) will become immediately due and payable to Axis Bank. Axis Bank will be entitled to recover the total outstanding from the estate of the Cardholder. The Bank will also be entitled to recover the total outstanding from monies / deposits / accounts maintained in the Cardholder’s name with the Bank. L) Disclosure Axis Bank may tie - up with credit bureaus authorised by the RBI and will share credit information including, but not limited to, your current balance, payment history, demographic details, etc. The credit bureaus do not provide any opinion, indication or comment pertaining to whether credit should or should not be granted. It is in your best interest to maintain a good credit history by paying the necessary dues in a timely manner. With credit bureaus in place, responsible customers can expect faster and more competitive services at better terms from credit grantors. Default by customers would be available with credit bureaus

which in turn would impact your credit worthiness for future requirements. Axis Bank will report customer information to credit bureaus on a monthly basis or such other time period as may be agreed between the Bank and the credit bureaus. In case of any billing dispute notified to Axis Bank, the Bank will suspend reporting to credit bureaus till the dispute is resolved. The Cardholder acknowledges that Axis Bank is authorised to share information relating to the Cardholder / Add - on Cardholder(s), including information relating to any default committed by the Cardholder in discharge of his / her obligation, as Axis Bank may deem appropriate and necessary, with any existing or further credit bureaus as determined by the Bank from time to time. Accordingly, the consent from Add - on Cardholder(s) to disclose information to such credit Bureaus. Such entities may further make available processed information or data or products thereof to banks / financial institutions and other credit grantors. Credit Bureaus include Credit Bureaus, Credit Reference Agencies, Credit Information Companies or any other entity formed and authorised by RBI for the purpose of collecting, collating and disseminating credit information pertaining to borrowers. If the Cardholder does not wish to receive any direct marketing or telecalling / telesales calls from Axis Bank / its associates / subsidiaries / agents, the Cardholder may opt out by registering in the ‘Provider Customer Preference Register’ as per details provided at the ‘TRAI’ website. Axis Bank is a member of the Banking Codes & Standards Board of India (BCSBI). Please visit the homepage of our website to view our commitments under the BCSBI code. M) Arbitration Clause All disputes, differences and / or claims or questions arising out of these presents, or in any way touching or concerning the same or as to constructions, meaning or effect thereof or as to the right, obligations and liabilities of the parties hereunder shall be referred to and settled by arbitration, to be held in accordance with the provisions of the Arbitration and Conciliation Act, 1996, or any statutory amendments thereof, of a sole arbitrator to be nominated by the Lender / Bank, and in the event of death, unwillingness, refusal, neglect, inability or incapability of a person so appointed, to act as an arbitrator, the Lender / Bank may appoint a new arbitrator to be a sole arbitrator. The arbitrator shall not be required to give any reasons for the award and the award of the arbitrator shall be final and binding on all parties concerned. The Arbitration proceedings shall be held in Mumbai only.

N) Prohibition Clause International Credit Cards cannot be used on the internet or otherwise, for the purchase of prohibited items such as lottery tickets, banned or proscribed magazines, participation in sweepstakes, payment for call back services, and / or such items / activities for which no drawl of foreign exchange is permitted. O) FEMA (Foreign Exchange Management Act.) i) Usage of the Card for transacting outside India must be made in

accordance with applicable law, including the Exchange Control Regulations of the RBI and the Foreign Exchange Management Act, 1999, and in the event of any failure to do so, you may be liable for penal action.

ii) Credit Card cannot be used for making payments directly / indirectly

towards Overseas Forex Trading through electronic / internet trading portals. This is prohibited as per regulatory guidelines. For further details, please visit our website.

iii) The Card is valid for use, both in India as well as abroad. It is, however, not

valid for making foreign currency transactions in Nepal and Bhutan. iv) 100 % payment has to be mandatorily made through Auto pay mode from

Axis bank NRE / NRO account only for NRI customers. v) Cash payment will not be accepted for NRI customers. P) Unauthorized Electronic Banking Transactions in Card account 1) The Bank will not offer facility of electronic transactions, other than ATM cash withdrawals, to customers who do not provide valid mobile numbers to the Bank. 2)The Customer shall inform the Bank in writing within seven (7) days, if any discrepancies exist in the Transactions/ particulars of the Balance on any statement / records that is made available to the Customer. 3) If the Bank receives any information to the contrary beyond seven (7) working days, the customers’ liability shall be determined as per the Banks Board approved policy which is available in Banks website. 4) All records of your instructions and such other details (including but not limited to payments made or received) maintained by the Bank, in electronic or documentary form pursuant to the Terms and Conditions herein, shall as against

You, be deemed to be conclusive evidence of such instructions and such other details. 5)In case of any dispute relating to the time of reporting and/or Transaction/s made on the account or any other matter in relation to the said account, the Bank shall reserve the right to ascertain the time and/ or the authenticity of the disputed Transaction and your liability in case of unauthorised transactions in your card account due to third party fraud or where you have not contributed for the fraud will be driven as per the guidelines given in RBI Circular on “Customer protection- Limited liability of customers in unauthorised Electronic Banking transactions” Any changes in the regulations as amended from time to time will be applicable and binding at that point of time. 6) For Customer care/Customer redressal contact details, kindly refer our website www.axisbank.com/support DISCLAIMER: The Bank, its employees, agents or contractors shall not be liable for, and in respect of any loss or damage whether direct, indirect or consequential, including but not limited to the loss of revenue, profit, business, contracts, anticipated savings or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by the user or any person, howsoever, arising from or relating to any delay, interruption, suspension, resolution or error of the Bank in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restriction, or error in transmission of any information or message to and from the telecommunication equipment of the user and the network of any service provider and the Bank's system or any breakdown, interruption, suspension or failure of the telecommunication equipment of the user, the Bank's system or the network of any service provider and / or any third party who provides such services as is necessary to provide the facility. Axis Bank may at its sole discretion, utilise the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products. • Axis Bank will communicate the status of application form within 21 working days. • Axis Bank will never ask for card CVV, PIN, OTP or Internet password to offer any deals, gifts, vouchers, redemption of reward points, activation or cancellation of card. Kindly ignore such requests on call/email. Confirm Axis Bank contact numbers on the official website before any correspondence.

• Please ensure authenticity of the website and/or portal before initiating any online/e-com transactions. Be aware of fake websites that befraud you of your money. • The card issued by the bank is for personal use of the customer. Bank does not encourage, or support transactions made on behalf or benefit of a third party. • In case of merchant refunds/disputes for international transactions, any rate difference arising out of currency fluctuation would be borne by the customer.

Contact Channels Customer Services For LIC cards: 1800 419 0064 E-mail ID: axisbank.com/support Grievance Redressal /Escalation To, Nodal Officer Axis Bank Ltd., NPC1, 5th Floor, "Gigaplex", Plot No. I.T.5, MIDC, Airoli Knowledge Park, Airoli, Navi Mumbai - 400 708. E-mail ID: nodal.officer@axisbank.com, Ph. 91-080-61865200. Timings: 9:30am to 5:30pm (Monday to Friday) 9:30am to 2:00pm (Saturday) Except Banking Holidays